Solar Panel Cost Guide in Franklin, NH (Mar 2023)
- Franklin Solar Installation Cost: $10,144
- 25-Year Savings: $15,200
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Franklin
See how much it might cost to go solar in Franklin.
In Franklin, solar panels cost about 2.91 per watt on average. To account for the typical energy needs of the average home in Franklin, most homeowners require a 5.0-kilowatt system. Using the figure above, a solar installation costs around $10,144, or $14,506 before the federal solar tax credit of 30% is applied.
These figures are just averages, and the cost of going solar for you may look different based on factors unique to your home and what company you choose to go with. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-9,130 |
| 3 years | $-7,103 |
| 5 years | $-5,075 |
| 7 years | $-3,048 |
| 9 years | $-1,020 |
| 11 years | $1,007 |
| 13 years | $3,035 |
| 15 years | $5,062 |
| 17 years | $7,090 |
| 19 years | $9,117 |
| 21 years | $11,145 |
| 23 years | $13,172 |
| 25 years | $15,200 |
Top Solar Installers in Franklin
Many homeowners choose to hire a solar panel company since trying to install solar panels yourself can be a labor-intensive endeavor. Some solar companies, particularly local ones, can help you better understand incentives in Franklin, therefore optimizing your ROI.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers nearby:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Franklin
Factors that Affect Solar Panel Costs in Franklin
Even though the average cost of a solar system in Franklin is $10,144, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Franklin provide solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also increases your total costs, so it's important to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Franklin, and each can charge different amounts for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that offers the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.03 | $12,711 | $17,826 | 10.4 years |
| 8 kW | $2.97 | $16,622 | $24,094 | 10.2 years |
| 10 kW | $2.91 | $20,370 | $30,525 | 10.0 years |
| 12 kW | $2.85 | $23,955 | $37,119 | 9.8 years |
| 14 kW | $2.79 | $27,377 | $43,876 | 9.6 years |
| 16 kW | $2.74 | $30,636 | $50,796 | 9.4 years |
| 18 kW | $2.68 | $33,733 | $57,878 | 9.2 years |
| 20 kW | $2.62 | $36,666 | $65,124 | 9.0 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Franklin, NH Solar Cost FAQs
How much does it cost to install solar panels in Franklin?
The average cost of solar panels in Franklin is about $14,550 for a 5-kW system and $29,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Franklin?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.